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The Malarkey Of Money Transfers: Overlooking E-Bay Whilst The Hawaladars Are Hunted, David M. Cook, Timothy Smith
The Malarkey Of Money Transfers: Overlooking E-Bay Whilst The Hawaladars Are Hunted, David M. Cook, Timothy Smith
Dr. David M Cook
Informal Money Transfer systems represent one of several persistent loopholes in the fight against the War on Terror. Terrorist groups and criminal networks continue to use the Hawala system, as well as other informal transfer systems, to escape the regulatory and administrative control of formal international banking transactions. In an age where global financial regulation is underpinned by international agreement through Basel and others, the ongoing use of IVTs in Australia is cause for increasing concern. Yet Hawala is only half of the informal equation. E-bay and its associated bedfellows outstrip Hawala transfers through the same commercial imperative that drives …
Finance, Fear, And Family: Issues Of Trust And The Common Ground With Terrorist Funding, David M. Cook, Timothy Smith
Finance, Fear, And Family: Issues Of Trust And The Common Ground With Terrorist Funding, David M. Cook, Timothy Smith
Dr. David M Cook
In the immediate aftermath of al-Qaeda’s September 11 attacks on the United States of America, examinations of terrorist funding focused on the Middle Eastern and South Asian use of Hawala and non-traceable financial transactions. However, whilst the cloaking of identity is certainly a part of criminal activity for funds transfer, there are other factors. South Asia’s community banking norms align far more closely with informal systems that follow centuries-old customs of familial trust rather than reportable record keeping. Tightened restrictions on money movement in the form of identity checks and statements of purpose have coerced more than two hundred million …